As it continues to adjust its business model after the QVC and HSN merger, Qurate Retail struggled in a challenging first quarter.
Overstock continues restructuring its retail business as it posted a first quarter loss and named Dave Nielsen president of retail.
Direct retail sales at Wayfair gained 39% in the first quarter year over year, but losses increased as well, with the deficit growing from $200.4 million, or $2.20 per diluted share, from $107.8 million, or $1.22 per diluted share in the previous first quarter.
First quarter financial results indicate that its fresh approach to retail and health care, including the company’s Aetna acquisition, is making gains, said Larry Menlo, CVS Health Corp. president and CEO.
As it continues struggling to generate profits, Rite Aid posted a net loss from continuing operations of $255.6 million, or 24 cents per share, versus a net loss of $483.7 million, or 46 cents per share, in the year-earlier period.
For the fourth quarter ended March 2, and under pressure from activists to make board of directors and other changes, Bed Bath & Beyond posted a net loss of $253.8 million, or $1.92 per diluted share, versus earnings of $194 million, or $1.41 per diluted share, in the period a year prior.
The fourth quarter provided a strong finish to Conn’s fiscal year as the company reported growth in sales and net income for the period ended January 31.